Group 1 - The Hershey Company's (HSY) third-quarter 2025 results indicate that pricing is the main driver of performance, with organic, constant-currency net sales growing by 6.2%, primarily due to net price realization of approximately six points [1][8] - Management noted that the pricing announced in 2025 had a modest contribution, with current sales growth mainly linked to earlier pricing actions rather than new increases [2] - Volume performance was mixed, with slight positive growth at the consolidated level supported by Salty Snacks, while some areas experienced modest volume declines due to price elasticity and changes in product mix [3][4] Group 2 - Strong net price realization helped offset ongoing cost pressures from commodities and tariffs, although recent pricing actions have only partially covered inflation absorbed over the past two years, particularly with elevated cocoa prices [4][5] - With most pricing actions in place, the focus is shifting towards volume stabilization, and while there are early signs of resilience, a clear volume recovery has not yet been established [5] - HSY shares have gained 3.1% over the past six months, outperforming the industry's growth of 0.2% [6]